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Abstract

Chapter XIII of the Bankruptcy Act presents a workable plan whereby all who participate in it will benefit thereby. It is essentially a rehabilitation device and the unfortunate debtors, who seek to pay their debts rather than having them discharged in straight bankruptcy, require the conscientious attention of their attorneys, the referee, and the trustee to that end.

I. Who May File

II. Where Petition Is Filed

III. Contents of Petition

IV. Effect of Filing

V. Powers of the Court and Referee

VI. Contents of the Plan

[VII]. Meeting of the Creditors

[VIII]. Confirmation … A. Acceptance by All Creditors … B. Acceptance by Less Than All Creditors … C. Effect of Confirmation … D. Discharge in Straight Bankruptcy within Prior Six-Year Period

[IX]. Alteration or Modification of Plan

[X]. The Trustee

[XI]. Discharge

[XII]. Advantages

[XIII]. Disadvantages

[XIV]. Conclusion

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